DODOMA, June 12 -- IN 2024, the Bank of Tanzania (BoT) officially began implementing a monetary policy framework based on interest rates as a primary tool for controlling inflation and enhancing economic efficiency, in line with changes in both domestic and global economic conditions.

As part of this policy, the central bank set its benchmark interest rate at 5.percent for the first quarter ending March 2024.

This rate was later raised to 6.0 percent in the second quarter ending June 2024 and remained unchanged for the remaining two quarters of the year.

Meanwhile, the average interest rate for seven-day interbank loans stood at 7.67 percent throughout 2024. This rate remained within the acceptable margin of +/-2 percent around the cen...